^TNX vs. TMV
Compare and contrast key facts about Treasury Yield 10 Years (^TNX) and Direxion Daily 20-Year Treasury Bear 3X (TMV).
TMV is a passively managed fund by Direxion that tracks the performance of the NYSE 20 Year Plus Treasury Bond Index (-300%). It was launched on Apr 16, 2009.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ^TNX or TMV.
Correlation
The correlation between ^TNX and TMV is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
^TNX vs. TMV - Performance Comparison
Key characteristics
^TNX:
-0.33
TMV:
-0.08
^TNX:
-0.33
TMV:
0.18
^TNX:
0.96
TMV:
1.02
^TNX:
-0.13
TMV:
-0.03
^TNX:
-0.64
TMV:
-0.18
^TNX:
11.09%
TMV:
17.95%
^TNX:
21.50%
TMV:
40.93%
^TNX:
-93.78%
TMV:
-99.06%
^TNX:
-49.46%
TMV:
-96.89%
Returns By Period
In the year-to-date period, ^TNX achieves a -11.33% return, which is significantly higher than TMV's -14.88% return. Over the past 10 years, ^TNX has outperformed TMV with an annualized return of 7.88%, while TMV has yielded a comparatively lower -5.58% annualized return.
^TNX
-11.33%
-3.68%
5.32%
-6.89%
47.37%
7.88%
TMV
-14.88%
-1.61%
13.81%
-3.53%
24.20%
-5.58%
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Risk-Adjusted Performance
^TNX vs. TMV — Risk-Adjusted Performance Rank
^TNX
TMV
^TNX vs. TMV - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Treasury Yield 10 Years (^TNX) and Direxion Daily 20-Year Treasury Bear 3X (TMV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Drawdowns
^TNX vs. TMV - Drawdown Comparison
The maximum ^TNX drawdown since its inception was -93.78%, smaller than the maximum TMV drawdown of -99.06%. Use the drawdown chart below to compare losses from any high point for ^TNX and TMV. For additional features, visit the drawdowns tool.
Volatility
^TNX vs. TMV - Volatility Comparison
The current volatility for Treasury Yield 10 Years (^TNX) is 6.55%, while Direxion Daily 20-Year Treasury Bear 3X (TMV) has a volatility of 9.61%. This indicates that ^TNX experiences smaller price fluctuations and is considered to be less risky than TMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.